A group of retailers, including Macy's and Target, are suing Visa and MasterCard over fees, breaking off from a proposed $7.2 billion settlement reached last year.» Read More
*Saks rallies on report it could sell itself. NEW YORK, May 22- U.S. stocks were set to rise at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy.
U.S. stock market futures indicated a higher opening on Wednesday, ahead of a closely-watched speech by Fed Chair Ben Bernanke.
May 22- Target Corp cut its full-year profit forecast on Wednesday while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items like clothing.
Some of the names on the move ahead of the open.
Target cuts its full-year profit forecast while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items.
Target earned $498 million, or 77 cents per share, in the first quarter ended on May 4, compared with a profit of $697 million, or $1.04 per share, a year earlier.
Costco Wholesale Corp. rose $1.46 or 1.3 percent, to $113.48. Target rose$. 61 or. 9 percent, to $71.26. Wal-Mart Stores Inc. fell$. 01 or percent, to $77.39.
The "Fast Money" traders share their final trades of the day and what they're looking out for Wednesday.
While 94 percent of the companies in the Standard & Poor's 500 Index have already reported quarterly earnings, this week remains a key week for the retail industry with 24 retailers reporting earnings—12 of which are S&P 500 components.
WASHINGTON _ National Association of Realtors releases existing home sales for April, 10 a.m. Eastern. WASHINGTON _ Federal Reserve releases minutes from April interest-rate meeting. WASHINGTON _ Federal Reserve Chairman Ben Bernanke testifies about the economy before the Joint Economic Committee.
NEW YORK-- Shares of some top big-box retail companies are up at 1 p.m.:. Costco Wholesale Corp. rose $1.40 or 1.2 percent, to $113.42. Wal-Mart Stores Inc. rose$. 11 or. 1 percent, to $77.51.
NEW YORK-- Sears Holdings Corp. is expected to report first-quarter earnings results after the regular markets close on Thursday that will provide more indications of how the struggling department store chain will turn around its business.
NEW YORK-- Shares of some top big-box retail companies are up at 10 a.m.:. Costco Wholesale Corp. rose$. 60 or. 5 percent, to $112.62. Wal-Mart Stores Inc. rose$. 14 or. 2 percent, to $77.54.
Costco Wholesale Corp. fell $1.03 or. 9 percent, to $112.02. Target fell$. 41 or. 6 percent, to $70.65. Wal-Mart Stores Inc. fell$. 47 or. 6 percent, to $77.40.
NEW YORK-- Shares of some top big-box retail companies are down at 1 p.m.:. Costco Wholesale Corp. fell$. 49 or. 4 percent, to $112.56. Wal-Mart Stores Inc. fell$. 18 or. 2 percent, to $77.69.
The CNBC "Fast Money" traders are looking for opportunity in retailers' quarterly earnings reports this week.
NEW YORK-- Target Corp.' s first-quarter financial results Wednesday should offer insight into how its shoppers are grappling with a payroll tax and other financial issues.
NEW YORK-- Shares of some top big-box retail companies are down at 10 a.m.:. Costco Wholesale Corp. fell$. 25 or. 2 percent, to $112.80. Wal-Mart Stores Inc. fell$. 08 or. 1 percent, to $77.79.
Bullish momentum should drive stocks higher into the week ahead, with all eyes on a speech by Fed Chairman Bernanke.
SAN FRANCISCO, May 17- Target Corp said on Friday it opened a new San Francisco office to track down technology companies that can help the second-largest U.S. retailer grow its online commerce business.